Repositioning an Office for the Post-COVID Era
Integrating into the surrounding community will be key.
As we near the year mark on America’s great WFH experiment, it’s clear that when employees eventually return to the office, they’ll do so in far less numbers than before. And those that do return will still require some enticing to be completely comfortable in their new office normal. To meet that need, office owners will be forced to reposition their existing stock into more desirable properties. Here are some ways, according to Gensler, that developers can make it happen.
Owners will first need to expand their definition of ROI and “become invested neighbors,” according to Gensler. That’ll require integrating the ground floor community and working with applicable government agencies to make the building “active, self-supporting, and inviting.” Perhaps unsurprisingly, green space will be huge amenities for workers post-pandemic, and Gensler expects to see more conversions of hard surface plazas into pocket parks or gardens.
Traditional parking needs will also decline and shift, so smart developers will adapt by creating bike and scooter depots, shower and locker room facilities, and charging infrastructure for electric vehicles. Touchless entry, access, and reservation systems will also take off, with personal devices replacing building IDs, security cards and elevator access systems, as well as traditional ways of reserving conference and amenity space. On-site or nearby conveniences like medical clinics, grocery stores, ghost kitchens, and embedded tech will also help developers stand out in a prospective tenant pool.
Finally, landlords should be open to creative financing options (including shorter-term leases) that support tenants.
“Existing office building stock represents a massive opportunity to reimagine our communities without maximizing our footprint,” the report states. “Rather than allowing buildings to remain insular and self-contained, office building developers can transform tower blocks into integrated, socially responsible buildings that contribute to the surrounding community.”